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Performance SBLC for Pakistan

Performance SBLC Template for Pakistan

A Performance Standby Letter of Credit (SBLC) under Pakistani law is a bank-issued financial instrument that provides an irrevocable guarantee of payment in case of non-performance of specified contractual obligations. This document, governed by Pakistani banking and contract laws, serves as a contingent payment obligation where the issuing bank commits to pay the beneficiary upon presentation of compliant documents evidencing the applicant's failure to perform specified obligations. The document incorporates requirements from the Banking Companies Ordinance, 1962, and typically follows international standards such as UCP 600 or ISP98.

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What is a Performance SBLC?

The Performance SBLC is a crucial financial instrument in Pakistani business transactions, particularly in scenarios requiring strong performance guarantees. It serves as a bank-backed assurance mechanism where one party (the applicant) provides security to another (the beneficiary) for the performance of specific obligations. The document is commonly used in construction projects, international trade, and large-scale service contracts where Pakistani entities engage with domestic or international counterparties. The Performance SBLC includes detailed terms for drawing conditions, documentation requirements, and claim procedures, all structured within Pakistan's legal framework while often incorporating international banking practices. This instrument is particularly valuable when parties seek a more formal and bank-backed alternative to traditional performance bonds or when required by regulatory or contractual obligations.

What sections should be included in a Performance SBLC?

1. Bank Details and Reference: Issuing bank's details, SBLC reference number, and date of issuance

2. Beneficiary Details: Complete details of the party in whose favor the SBLC is issued

3. Applicant Details: Complete details of the party requesting the SBLC

4. Amount and Currency: The maximum drawable amount and currency of the SBLC

5. Underlying Transaction: Reference to the underlying performance contract or obligation

6. Performance Obligations: Specific description of the performance requirements being guaranteed

7. Conditions for Drawing: Specific conditions and documentation required for claiming under the SBLC

8. Expiry Details: Expiry date and place of the SBLC

9. Presentation Terms: How and where documents should be presented for claims

10. Governing Law and Jurisdiction: Specification of Pakistani law and relevant jurisdiction

11. UCP/ISP Declaration: Statement of which international rules govern the SBLC

What sections are optional to include in a Performance SBLC?

1. Partial Drawings Clause: Include when multiple partial drawings are to be permitted

2. Transfer Clause: Include when the SBLC should be transferable to other beneficiaries

3. Language Preference: Include when documents may be presented in multiple languages

4. Electronic Presentation: Include when electronic presentation of documents is acceptable

5. Force Majeure: Include when specific force majeure provisions are required beyond standard bank terms

6. Special Payment Instructions: Include when payment needs to be made to specific accounts or through specific channels

What schedules should be included in a Performance SBLC?

1. Schedule A - Required Documentation: List of specific documents required for drawing under the SBLC

2. Schedule B - Performance Metrics: Detailed metrics or standards for measuring the guaranteed performance

3. Schedule C - Form of Demand: Standard format for making a claim under the SBLC

4. Appendix 1 - Original Performance Contract Reference: Key details or extract of the underlying performance contract

5. Appendix 2 - Authorized Signatories: List of authorized signatories for the beneficiary and their specimen signatures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions



































Clauses






























Relevant Industries

Banking and Financial Services

Construction

Infrastructure Development

International Trade

Manufacturing

Energy and Utilities

Telecommunications

Defense Contracting

Engineering Services

Project Development

Relevant Teams

Legal

Finance

Treasury

Trade Finance

Risk Management

Corporate Banking

Project Management

Procurement

International Business

Compliance

Relevant Roles

Trade Finance Manager

Project Finance Director

Commercial Banking Officer

Credit Risk Manager

International Business Development Manager

Contract Administrator

Treasury Manager

Chief Financial Officer

Procurement Manager

Legal Counsel

Documentary Credits Specialist

Corporate Banking Relationship Manager

Project Manager

Commercial Director

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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